Project Portfolio Resource Allocation Optimization

Resolve Bottlenecks,
Find Innovative SolutionsGenerate Solutions

Solution Overview

Problem

Current project portfolio management systems are inefficient in optimizing resource allocation across multiple projects due to manual labor-intensive methods, prone to errors, and fail to account for both objective and subjective constraints, leading to suboptimal resource utilization and increased costs.

Innovation Solution

A computerized method and system that automatically allocates resources across projects based on project-level constraints, generating scenarios to satisfy optimization criteria such as resource utilization, schedule, cost, and ROI, while reordering project schedules and adjusting staffing parameters to optimize the portfolio.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If manual resource allocation methods are used, then ease of operation is maintained, but productivity deteriorates due to labor intensity and errors

Engineering Contradiction:

Improveresource allocation efficiencyVSAvoidsystem complexity

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The patent replaces manual mechanical resource allocation processes with an automated computerized system that uses algorithms to optimize resource distribution across projects, eliminating labor-intensive manual operations while maintaining ease of use through automated decision-making

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system transforms resource allocation from qualitative manual decisions to quantitative optimized distributions by changing parameters such as resource utilization rates, project prioritization scores, and allocation ratios through computational algorithms

Inventive Principle:

Principle #35Parameter changes

2Measurement precision

If single-pass allocation is used, then ease of operation is maintained, but measurement precision deteriorates due to inability to satisfy multiple optimization criteria

Engineering Contradiction:

Improveoptimization criteria satisfactionVSAvoidallocation time

Core Design Contradiction:

Measurement precisionVSLoss of time

Solution Approach 1:

The patent implements iterative multi-pass allocation processes where the system repeatedly adjusts resource distributions across different passes to progressively satisfy multiple optimization criteria such as resource utilization, project priorities, and constraints, rather than achieving optimal results in a single manual pass

Inventive Principle:

Principle #19Periodic action

Solution Approach 2:

The system maintains continuous optimization cycles where resource allocation is continuously adjusted and refined through multiple iterations, ensuring that all optimization criteria are progressively satisfied through uninterrupted computational processing

Inventive Principle:

Principle #20Continuity of useful action

3Reliability

If additional resource overhead is allocated as buffer, then reliability is improved, but loss of energy deteriorates due to increased costs

Engineering Contradiction:

Improveconstraint satisfactionVSAvoidorganizational cost

Core Design Contradiction:

ReliabilityVSLoss of energy

Solution Approach 1:

Instead of allocating excessive buffer resources across the board, the patent applies partial optimization by selectively allocating resources only where needed based on project-specific constraints and risk assessments, avoiding unnecessary resource overhead while maintaining adequate buffers for critical projects

Inventive Principle:

Principle #16Partial or excessive action

Solution Approach 2:

The system dynamically adjusts resource allocation parameters such as buffer levels, resource pools, and contingency allocations based on real-time project status, risk probabilities, and constraint analyses, optimizing the balance between reliability and cost efficiency

Inventive Principle:

Principle #35Parameter changes

4Manufacturing precision

If manual allocation is used, then ease of operation is maintained, but manufacturing precision deteriorates due to error-prone processes

Engineering Contradiction:

Improveallocation accuracyVSAvoidautomation system complexity

Core Design Contradiction:

Manufacturing precisionVSDevice complexity

Solution Approach 1:

The patent substitutes manual mechanical allocation operations with automated computerized systems that use algorithms to calculate and distribute resources precisely, eliminating human errors in calculation and decision-making while managing system complexity through standardized automated processes

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS8214240B1Method and system for allocation of resources in a project portfolio

Publication Date: 2012.07.03 FMR CORP

AI summary

Described are methods and apparatuses, including computer program products, for optimizing allocation of resources across projects in a project portfolio. The method includes receiving, at a computing device, (i) resource information, (ii) a portfolio of project definitions and (iii) one or more portfolio-level optimization criteria. The resource information representing a plurality of resources available for allocation to the projects, and each project definition includes a unique identifier and one or more project-level constraints. The method also includes generating, using the computing device, a plurality of project portfolio allocation scenarios and determining one or more optimized project portfolio allocation scenarios from the plurality of project portfolio allocation scenarios. Each project portfolio allocation scenario satisfies the one or more project-level constraints associated with each project definition. Each optimized project portfolio allocation scenario optimizes a sequence of the projects to satisfy the one or more portfolio-level optimization criteria.